Reserve Bank of India issued its Second Bi-monthly Monetary Policy Statement, 2015-16. According to the statement
1.Short-term lending rate or Repo rate has been cut by 0.25 percent to 7.25 percent.
2.The Reverse Repo rate under the LAF stands adjusted to 6.25 percent,
3.The Marginal Standing Facility (MSF) rate and the Bank Rate to 8.25 percent.
5.Cash Reserve Ratio has been kept unchanged at 4 percent. \
6.Statutory Liquidity Ratio is retained at 21.5 percent.
7.Inflation is expected to rise to 6 percent by January 2016. Growth forecast has been lowered to 7.6 percent for 2015-16 from 7.8 percent projected in April 2015

US-based taxi hailing app Uber has appointed Amit Jain as President of its India operations. In this role, Amit will be running all business strategies, operations, and growth in a market of global strategic importance for Uber. Prior to this, Jain was president of Rent.com, a technology company in the US dedicated to giving renters a free and convenient way to find a perfect place to live.

An Indian-origin businessman has been honoured for his commendable public service in Singapore. Gautam Banerjee, senior managing director at Blackstone and co-chairman of its Asia operating committee, as well as chairman of Blackstone Singapore, was awarded the prestigious 'Public Service Medal' by President Tony Tan Keng Yam.

The Union Cabinet, chaired by the Prime Minister Narendra Modi, has given its approval to the agreement on Coastal Shipping between India and Bangladesh to carry out coastal movement of goods between the two countries. 1.EXIM trade between India and Bangladesh would be benefited by way of reduction in freight charges.
2.It will also improve the utilization of port capacities of Indian ports and open up new opportunity for Indian coastal vessels.
3.It will also help in decongestion of roads especially at the Land custom stations/integrated check posts at the Indo-Bangladesh boarder

US-based taxi hailing app Uber has appointed Amit Jain as President of it's India operations. In this role, Amit will be running all business strategies, operations, and growth in a market of global strategic importance for Uber. Prior to this, Jain was president of Rent.com, a technology company in the US dedicated to giving renters a free and convenient way to find a perfect place to live.

An Indian-origin businessman has been honoured for his commendable public service in Singapore Gautam Banerjee, senior managing director at Blackstone and co-chairman of its Asia operating committee, as well as chairman of Blackstone Singapore, was awarded the prestigious 'Public Service Medal' by President Tony Tan Keng Yam.

The Union Cabinet, chaired by the Prime Minister Narendra Modi, has given it's approval to the agreement on Coastal Shipping between India and Bangladesh to carry out coastal movement of goods between the two countries. Exim trade between India and Bangladesh would be benefited by way of reduction in freight charges. It will also improve the utilization of port capacities of Indian ports and open up new opportunity for Indian coastal vessels. It will also help in decongestion of roads especially at the Land custom stations/integrated check posts at the Indo-Bangladesh boarder.

Nigeria's president-elect Muhammadu Buhari, who got a stunning victory in elections, sworn-in amid army salutations and cultural events. Buhari defeated President Good Luck Jonathan. Ever since Nigeria moved to democracy in 1999, Buhari had failed at three consecutive attempts to win the elections. 72-year-old Buhari took oath in the presence of Chief Justice of Nigeria and Supreme Court's Chief Mahmoud Mohammed.

West Bengal government had initiated a plan to invest over Rs.26,000 crore for the development of M.S.M.E and Textile sector. A separate textile policy of state was being formulated by the government. Under the plan M.S.M.E projects would be set up in joint ventures or through PPP model creating employment opportunities for six lakh people in the state. With this initiative there would be a massive improvement in the M.S.M.E sector and definitely the units like handloom, hosiery, zari and many other units.